Ad-hoc | 2 November 2012 12:09
telegate AG / Key word(s): Legal Matter
02.11.2012 12:09
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.
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Amount of compensation increases to approx. EUR 100 million within three
months
München-Martinsried, 2 November 2012 - The German Federal Court of Justice
(FCJ) has ruled that Deutsche Telekom AG must pay additional compensation
of EUR 50 million to telegate AG. For many years, the supplier of regional
advertising and directory assistance services was required to pay inflated
costs to Deutsche Telekom AG for the provision of subscriber data. As
recently as July 2012, the FCJ had ruled that EUR 47.2 million had to be
paid as compensation to two telegate subsidiaries. Accordingly, Deutsche
Telekom AG now has to transfer a total of EUR 97.2 million within three
months to the Munich-based company. Payment of the first tranche of EUR
47.2 million has already been completed. telegate AG believes that the
ruling of the FCJ confirms its position that Deutsche Telekom AG has acted
in violation of anti-trust laws for years and is liable for such conduct.
According to telegate's Management Board, the most recent decisions by the
Federal Court of Justice provide a positive foundation for two further
actions for damages (Cologne Regional Court, ref. no. 87 O 7/06; Cologne
Regional Court, ref. no. 81 O 332/06) against Deutsche Telekom AG, which
were brought back in 2005. Another important court hearing is scheduled for
late November 2012. These lawsuits involve claims for an additional
approximately EUR 110 million in damages including interest.
Due to the inflated data costs it was required to pay Deutsche Telekom over
the years, telegate was forced to substantially limit necessary investments
in its growth and had to accept lower income.
Contact:
Anja Meyer
telegate AG
Tel.: 0049 89 89541188
E-Mail: anja.meyer@telegate.com
02.11.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: telegate AG
Fraunhofer Str. 12a
82152 Planegg-Martinsried
Germany
Phone: +49 089 - 89 54 0
Fax: +49 089 - 89 54 10 10
E-mail: info@telegate.de
Internet: www.telegate.com
ISIN: DE0005118806
WKN: 511880
Indices: Prime All Share
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
End of Announcement DGAP News-Service
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